The price for constructing the Nabucco oil pipeline may reached 15 billion euros, almost twice the sum planned, ITAR-TASS reports.
OMV, an Austrian petroleum consortium, says that they are studying investments and expect the project to rise in price.Initial expectations were around 8 billion euros. Final decisions will be made in 2013. The project will be supported by the European Union, European Commissioner for Energy Gunther Oettinger said in early February.
Azerbaijan filed a proposal in October, offering sales of gas extracted as part of the second stage of Shah Deniz development. This includes the Trans-Adriatic Pipeline (TAP) towards Greece, Albania and Italy, and ITGI, developed with Turkey, Greece and Italy. the Nabucco Consortium has not confirmed information on TANAP yet.
Nabucco will be 4,000 km long and will run across the Caspian Region through Turkey and South-Eastern Europe to Austria.
